The Dollar After U.S. Presidential Elections
August 11, 2008
U.S. Treasury Secretary Paulson served notice today that he will not stay in that post in the next administration even if the Republican Party retains control of the White House. Many of the calendar years that followed a presidential election have seen important turning points in the dollar. Volatility in such years is not sheer […] More
Canadian Blahs
August 11, 2008
Canada announced more weaker-than-expected data today. Housing starts in July were 14% below the 2Q08 mean level and some 22% under the first-quarter level. The 12-month rate of advance in housing prices was only 3.5% in June, lowest since March 2002 and down from 4.1% in May. Just before this past weekend came news of […] More
Central Bank Watch
Australian Central Bank Leaves Options Open
August 11, 2008
At its monthly interest rate policy meeting last week, the Reserve Bank of Australia shifted to an easing bias one month after abandoning a restrictive bias for a neutral stance. The Bank released its quarterly monetary policy statement overnight to expand further on its latest thinking. The statement did not guarantee the timing of the […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Dollar Consolidates Friday's Gains
August 11, 2008
Following its best single day in years, the dollar is unchanged overnight against the euro, sterling and kiwi and off just 0.1% versus the Australian dollar, Swiss franc and Canadian dollar. Biggest dollar changes is a 0.2% dip against the yen. While the Nikkei jumped 2.0%, stocks fell by 5.2% in China and 2.8% in […] More
